Bidcorp acquires Thomas Ridley Foodservice

After its recent announcement about the acquisition of Harvest Fine Foods, Bidcorp UK has further strengthened its portfolio with the acquisition of Thomas Ridley Foodservice.

Founded in 1808, Thomas Ridley Foodservice is an independently-run foodservice wholesaler based in Bury St Edmunds. It delivers to over 2,000 customers across a variety of sectors including healthcare, education, hospitality, hotels, restaurants and retail.

Andrew Selley, CEO of Bidcorp UK, commented: “This is already shaping up to be an incredibly exciting year for us as a business. After being delighted to welcome Harvest Fine Foods into the Bidcorp family earlier this week, it gives me great pleasure to extend that same warm welcome to the team at Thomas Ridley Foodservice.

“As with Harvest, Thomas Ridley will join the Caterfood Buying Group, our growing network of independent businesses which includes Nichol Hughes, Elite Fine Foods, Caterfood, South Lincs Foodservice and Cimandis. These latest two acquisitions now make Caterfood one of the main buying groups serving the foodservice wholesale sector.

“Thomas Ridley is a highly experienced and accomplished foodservice supplier, and will perfectly complement the Caterfood Buying Group. As with the acquisition of the other independent businesses within the group, Thomas Ridley will continue operating as an autonomous and independent business.

“We look forward to working alongside them to learn from their expert teams, as well as supporting them from a financial and strategic perspective.”

Justin Godfrey, managing director of Thomas Ridley, added: “The business has been run by my family for over 200 years so it was important that we joined a company that shares the same customer-focused DNA, making food delivery one less thing to worry about.

“Bidcorp UK’s Caterfood Buying Group has the resource to support Thomas Ridley Foodservice in further improving and developing our offer and service level to our customers whilst keeping those family values.

“The Godfrey family genuinely feel that The Caterfood Buying Group strategy of allowing Thomas Ridley to operate as an autonomous business, whilst supported by the power and scale of Caterfood, is the best option for all stakeholders. We would like to thank all of our past and present customers, suppliers and especially colleagues for making the business a great success.”

As a consequence of the acquisition, Thomas Ridley Foodservice has left Country Range Group.

Country Range Group chief executive Martin Ward commented: “Our group is extremely close and it’s always a shame when we lose a member, especially one as longstanding as Thomas Ridley. We wish Justin and the wider Thomas Ridley team best wishes for the future.

“Acquisitions are part of business and, although it’s not ideal, we take it as a compliment that people are taking note of our members’ values, businesses and success. It means we’re doing something right. The fact that our members become attractive propositions to the takeover merchants comes with the territory. Our job is to continue to support and grow true family-owned, independent businesses.”

Published Date: January 23, 2023
Category: Wholesale Industry News